Key Metrics of Alok Industries
About Alok Industries
Sectors
Company details
- Website
- alokind.com
- Founded
- 1986
- Registered office
- 17/5/1, Village Rakholi/ Saily, Silvassa, In-dh, 396230
- Listed
- NSE: ALOKINDS · ₹8.30
Operational Areas of Alok Industries
Company summary
Entity details
Compliance
Industry classification
Financials, ratios and risk analysis
Revenue, EBITDA, net profit, net worth, debt and assets for every filing year, 15+ ratios, the financial health score, shareholding, charges and peer comparison are part of the premium plan.
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Due dates follow the Companies Act: AGM within six months of the year end, AOC-4 within 30 days and MGT-7 within 60 days of the AGM. A filing made but not yet uploaded here shows as pending.
Vendor checks & payment capacity
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Credit ratings
Rating history
Rating actions
| Date | Agency | Action | Long term | Short term | Outlook | Rated amount | Rationale |
|---|---|---|---|---|---|---|---|
| 09 Jan 2026 | CARE | Reaffirmed | AA+ | A1+ | Stable | ₹3,900 Cr | View |
| 23 May 2025 | CARE | Reaffirmed | AA+ | A1+ | Stable | ₹3,900 Cr | View |
| 27 Feb 2025 | CARE | Reaffirmed | AA+ | A1+ | Stable | ₹3,700 Cr | View |
| 06 Feb 2024 | CARE | Assigned | AA+ | A1+ | Stable | ₹3,700 Cr | View |
| 29 Jan 2024 | CARE | Other | — | — | — | — | View |
| 05 Jan 2023 | CARE | Revised (from AA) | AA | — | Stable | ₹10,602 Cr | View |
| 02 Feb 2022 | CARE | Reaffirmed | AA(CE) | — | Stable | ₹11,104 Cr | View |
| 06 Jan 2021 | CARE | Reaffirmed | AA(CE) | — | Stable | ₹5,552 Cr | View |
| 31 Mar 2020 | CARE | Other | AA(CE) | — | Stable | ₹11,110 Cr | View |
| 06 Mar 2020 | CARE | Assigned | AA(CE) | — | Stable | ₹11,110 Cr | View |
| 27 May 2015 | CARE | Other | — | — | — | ₹2,949 Cr | View |
Credit strengths (CARE, Jan 2026)
+ Experienced, strong, and resourceful promoters and demonstrated support
After the implementation of the Resolution Plan, RIL holds 40.01% equity stake in AIL, whereas JM Financial Asset Reconstruction Company (JMFARC) - Trust holds 34.99% equity stake in AIL and balance equity stake is held by public and other shareholders. The company’s key operations are managed and supervised by RIL through its three nominee directors appointed on the board of AIL. It is an associate company of RIL and RIL has supported AIL’s operations through extension of credit period for the
+ Integrated presence across the textile value chain in cotton and polyester segments
AIL has a presence across the entire textile value chain, cotton yarn, polyester yarn, apparel fabric, garments, and home textiles. Over the years, through continuous backward or forward integration and capacity expansion, AIL has established itself as oneof the largest integrated players in the domestic textile industry. The company also has a diversified clientele both, in the domestic as well as export markets, ensuring risk mitigation. Export sales contributed 24% to the overall revenue in F
+ Liquidity: Adequate
AIL’s liquidity profile is primarily driven by support of its strong parent - RIL, which has demonstrated the support by extension of credit period and infusion of funds in the past. Moreover, RIL has also extended corporate guarantee for the term loans ofAIL, which provides additional support. AIL had a cash and bank balances of ~₹13 crore as on September 30, 2025. Despite large amount of cash losses, its liquidity has been supported by shift to job work model for polyester segment resulting in
Credit challenges
− Subdued operating performance
AIL’s operating performance continued to remain subdued in FY25, where the company incurred operating losses owing to operational disruptions at its Silvassa unit caused by power failures and a tornado, leading to production losses. Capacity u tilisation for cotton declined to 88% in FY25 from 93% in FY24. These challenges, c oupled with high fixed costs impacted the operating performance during the period. Consequently, overall pe rformance remained subdued in FY25 with the company reporting
− Commoditised nature of textile business
The cotton yarn business is susceptible to volatility in raw cotton prices. Limited ability to fully pass on the price rise and inventory losses, in case of price corrections remain key challenges. Textile products are commoditised in nature, and the industry is characterised by intense competition and cyclicality, making it vulnerable to demand-supply dynamics, which restricts AIL’s pricing power. This apart, aggressive competition by other countries also impacts the pricing power. Transition o
Could lead to an upgrade
• Increase in the shareholding by RIL in the company to more than 50%, along with majority representation on entity’s board. • Improvement in the standalone performance of AIL with realisation of expected synergies with RIL, resulting in improvement in its debt coverage indicators and return on capital employed (ROCE).
Could lead to a downgrade
• Weakening of the credit risk profile of the major stakeholder, RIL marked by 1 notch downgrade in its ratings. • Any substantial decline in RIL’s holding in AIL from the current level. • Change in stance of timely and need-based support by RIL.
Agency-reported financials (CARE, 09 Jan 2026)
| Metric | H1FY26 |
|---|---|
| Total operating income | ₹1,786 Cr |
| PBILDT | ₹12.92 Cr |
| Profit after tax (PAT) | ₹-,378.45 Cr |
| Overall gearing (x) | 2.13× |
| Interest coverage (x) 0.13 NM | 0.04× |
| EBITDA margin | 0.7% |
| Implied interest cost (EBITDA ÷ coverage) | ₹323 Cr |
| PAT margin | −21.2% |
Borrowings & rated debt
Rated limits over time
Facility mix
Rated facilities
| Facility | Type | Previous | Current | Change | Rating | Action | Agency |
|---|---|---|---|---|---|---|---|
| Long-term bank facilities | Working capital & bank lines | — | ₹3,500 Cr | — | AA+ (Stable) | Reaffirmed | CARE |
| Long-term Short-term bank facilities | Working capital & bank lines | — | ₹390 Cr | — | AA+ / A1+ (Stable) | Reaffirmed | CARE |
| Short-term bank facilities | Working capital & bank lines | — | ₹10.0 Cr | — | A1+ | Reaffirmed | CARE |
CARE ratings on record (checked 26 Oct 2026)
| Instrument | Amount | Rating |
|---|---|---|
| Cash Credit | — | Withdrawn |
| CC/WCDL/OD/LC/BG | ₹390 Cr | CARE AA+; Stable / CARE A1+ |
| Loan Equivalent Risk | ₹10.0 Cr | CARE A1+ |
| Term Loan | — | Withdrawn |
| Term Loan | ₹3,500 Cr | CARE AA+; Stable |
| Un Supported Rating (Long Term) | — | Withdrawn |
Lenders
| Fund-based - LT | Term Loan | Axis Bank Ltd. |
| Fund-based - LT | Term Loan | State Bank of India |
| LT/ST Fund-based/Non-fund-based | CC/WCDL/OD/LC/BG | Axis Bank Ltd. |
| LT/ST Fund-based/Non-fund-based | CC/WCDL/OD/LC/BG | Proposed |
| LT/ST Fund-based/Non-fund-based | CC/WCDL/OD/LC/BG | State Bank of India |
| Non-fund-based - ST | Loan Equivalent Risk | Axis Bank Ltd. |
Credit assessment · Manufacturing
Rating Methodology – Manufacturing Companies (Mar 2025) · Standalone accounts · FY 2025-26
Ratios, pillar scores and the indicative rating are part of Premium.
Rating status
| Default | No default on record |
| Issuer cooperation | Cooperating |
| Credit enhancement | None – standalone rating |
| Information on file | 56% · missing: Capex / investment plans, Lender details, Auditor details, Recent rating review (last 15 months) |
Indicative assessment from public data using the published methodology factors; not a credit rating.
Borrowing & funding lifecycle
- Credit outlook model: 52% chance the next rating action is stable or better
- Current rating AA+ (investment grade)
- Interest coverage 0.04×
What happened, step by step
- Jan 2026 — ₹250 cr raised through preference shares
- Jan 2026 — Full repayment of term debt
“RIL had infused ₹250 crore by way of 9% optionally convertible redeemable preference shares and ₹3,300 crore by way of 9% non-convertible redeemable preference shares in AIL.”
Rated limits by facility
Timeline
From the report
RIL had infused ₹250 crore by way of 9% optionally convertible redeemable preference shares and ₹3,300 crore by way of 9% non-convertible redeemable preference shares in AIL.
From the report
AIL had a cash and bank balances of ~₹13 crore as on September 30, 2025.
From the report
Repayment of term debt is scheduled to commence from Q4FY26.
From the report
RIL had infused ₹250 crore by way of 9% Optionally Convertible Redeemable Preference Shares and ₹3,300 crore by way of 9% Non-Convertible Redeemable Preference Shares in AIL.
From the report
AIL had a cash and bank balances of ~₹12 crore as on March 31, 2025.
From the report
RIL had infused ₹250 crore by way of 9% Optionally Convertible Redeemable Preference Shares and ₹3,300 crore by way of 9% Non-Convertible Redeemable Preference Shares in AIL.
From the report
AIL had a cash and bank balances of ~ ₹100 crore as on September 30, 2024.
From the report
In January 2024, RIL infused ₹3,300 crore by way of 9% non-convertible cumulative redeemable preference shares in AIL.
From the report
These proceeds were utilised to repay outstanding term loans and working capital limits aggregating about ₹4,800 crore the balance amount was utilised to retire outstanding creditors.
From the report
RIL exhibits a superior liquidity profile with total cash and equivalents of ₹177,960 crore as on September 30, 2023.
From the report
Moreover, the company raised Rs.53,124 crore by way of rights issue in FY21.
From the report
The company also exhibits a very strong liquidity profile, with total cash and equivalents of Rs.2,41,846 crore as on December 31, 2021.
From the report
The c ompany has a repayment obligation of around Rs.28,000 crore, for which the cash accruals (of around R s.76,000 crore in 9MFY22) as well as cash balances would be more than adequate.
From the report
The company has a repayment obligation of around Rs.45,000 crorein FY21 for which the cash accruals as well as cash balances would be more than adequate.
From the report
On February 20, 2020, RIL has infused its equity commitment of Rs. 250 crore as well as optionally convertible preference shares of Rs.250 crore in AIL (as defined in the Resolution Plan).
From the report
On February 20, 2020, RIL has infused its equity commitment of Rs. 250 crore as well as optionally convertible preference shares of Rs.250 crore in AIL (as defined in the Resolution Plan).
Lender names, bank charges and audited borrowings are part of Premium.
Built from MCA charges, ICRA/CARE rating reports and audited accounts. The borrowing view is an estimate, not a lender's credit decision.
Registered office and contact
Directors and key people
Directors are read from the MGT-7 annual return and AOC-4 signatories.
Competitors of Alok Industries
Top competitors by location
| Company | Description | Domain | Founded | Location |
|---|---|---|---|---|
 Grasim Industries |
Textiles, Cotton & Yarn · Apparel, Textiles & Footwear | grasim.com | 1948 | Ujjain, India |
| Textiles, Cotton & Yarn · Apparel, Textiles & Footwear | arvind.com | — | Ahmedabad, India | |
| Textiles, Cotton & Yarn · Apparel, Textiles & Footwear | welspunliving.com | — | Anjar, India | |
| Formal & Premium Menswear · Apparel, Textiles & Footwear | raymond.in | — | Ratnagiri, India | |
 KPR Mill |
Textiles, Cotton & Yarn · Apparel, Textiles & Footwear | kprmilllimited.com | — | India |
 Page Industries |
Textiles, Cotton & Yarn · Apparel, Textiles & Footwear | pageind.com | 1995 | Bengaluru, India |
| Textiles, Cotton & Yarn · Apparel, Textiles & Footwear | indocount.com | — | Kolhapur, India | |
| Textiles, Cotton & Yarn · Apparel, Textiles & Footwear | owmnahar.com | — | Ludhiana, India | |
 Greaves Cotton |
Textiles, Cotton & Yarn · Apparel, Textiles & Footwear | greavescotton.com | 1859 | Aurangabad, India |
| Formal & Premium Menswear · Apparel, Textiles & Footwear | siyaram.com | 1978 | Boisar, India |
Similar companies
Charges (secured borrowings)
0 registered charges. Lenders, amounts and dates are part of the premium plan.
Statutory auditors
Auditors are read from the AOC-4 auditor's report section.
Business activities and related parties
Textiles
Filings
No filings on record yet.